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Hotel Sales In Bangkok In A Solid Growth

Many investors are coming to Thailand to fund various projects such as a high-rise hotel in Bangkok and for the first six months of this year alone, the hotel market of the country was able to receive a total direct investment worth 10.7 billion baht. This figure was reported by the JLL Hotels & Hospitality Group which is based in Thailand.

The figure came from four main ventures that included five hotels located in both Pattaya and Bangkok.

Mike Batchelor who is the head of investment Sales Asia for JLL Hotels said that in 2016 they were able to record the full year investment of only 9.6 billion baht. The strong interests of the investors in the first half of this year only shows that the hospitality market of Thailand is going strong and remains to have a positive future which is good news for the tourism industry of the country.

Investors are coming from regional and domestic sectors. The most recent acquisitions were made by companies in Singapore, Carlton Hotel Group and Hotel 81. The ventures from these companies only made it clear that Thailand is still the number one when it comes to countries worth investing in the region.

Carlton Hotel Group based in Singapore was able to acquire an unfinished project located in Bangkok. Its exact address is Sukhumvit Road Soi 27 and the entire property has a total land area of over 3,200 square meters. The hotel has currently 34 floors and is still under construction.

Bangkok Management Company Limited is the seller and they were the ones that commissioned JLL Hotels in mediating the deal. The transaction was worth 2.4 billion baht. The project is expected to be done by 2019 and it will carry the brand of Carlton Hotel in the capital city.

Hotel 81, on the other hand, was able acquire Premier Inn and two other hotels that are located in Bangkok and Pattaya. The company has put Travleodge into the position of power in terms of managing the hotels they have bought in the country.

According to JLL, when 2017 ends they are expecting a total investment of 14 billion and new projects such as a high rise hotel in Bangkok might be available to locals and tourists in the coming years.